WEBVTT

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<v Speaker 1>The bulls are back in control as bitcoin hits seventy

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<v Speaker 1>thousand dollars. I want to share the charts with you

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<v Speaker 1>and what I'm seeing, as well as some very interesting

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<v Speaker 1>price predictions from the Wall Street crowd and institutions. And

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<v Speaker 1>Gary Ginser gets asked about losing his job after the election,

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<v Speaker 1>and I want to share the answer with you. In addition,

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<v Speaker 1>the crypto industry sends a whole bunch of Amikis briefs

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<v Speaker 1>in different crypto cases today. I think they sense Ginster

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<v Speaker 1>is going to be out, so they are punching back.

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<v Speaker 1>I'll share the details. Let's get into it. Hey, everybody,

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<v Speaker 1>welcome into the Thinking Crypto podcast. You're home for cryptocurrency

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<v Speaker 1>news and interviews. I'm your host, Tony Edward. On your

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<v Speaker 1>way in. Please let that subscribe button as well as

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<v Speaker 1>the thumbs up button and leave a comment below. If

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<v Speaker 1>you're listening on a podcast platform such as Spotify or Apple,

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<v Speaker 1>please leave a five star reading and review. Folks, we've

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<v Speaker 1>got to talk about bitcoin. It touched seventy k once again.

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<v Speaker 1>We're waiting for a full breakout through seventy k to

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<v Speaker 1>surpass seventy one ks. But as I've been sharing with

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<v Speaker 1>you guys. We are seeing higher highs and higher lows

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<v Speaker 1>being set up here on this chart. It's looking bullish. Now,

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<v Speaker 1>there's no guarantees, there's no certainties. We don't have a

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<v Speaker 1>crystal ball, black swan events can happen and so forth.

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<v Speaker 1>But if everything goes according to plan, this thing could

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<v Speaker 1>move up this week, breaking through seventy one seventy two K,

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<v Speaker 1>which will be very bullish. That will be some key

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<v Speaker 1>resistance levels that it will be breaking through, and then

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<v Speaker 1>Bitcoin can enter into price discovery and of course the

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<v Speaker 1>liquidity will start flowing to the all coins. So guys,

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<v Speaker 1>things are looking really good here. From the dxy standpoint,

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<v Speaker 1>the dxy overbought, it's about to collapse. This is not

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<v Speaker 1>a sustainable zone for it to be in. This will

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<v Speaker 1>help bitcoin and risk assets to pump. So very very bullish,

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<v Speaker 1>and as I've been telling you guys, once the elections

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<v Speaker 1>out of the way, a lot of uncertainty will be

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<v Speaker 1>removed and it's going to be very good for the markets.

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<v Speaker 1>We've seen this historically no matter who becomes president. Bitcoin

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<v Speaker 1>is not correlated to the Republicans that are debamocrats. It's

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<v Speaker 1>correlated to money printing, to the basement of currency global liquidity.

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<v Speaker 1>And we've seen bitcoin pump on their Obama, on their

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<v Speaker 1>Trump under Biden, and if Trump gets in to office

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<v Speaker 1>now or Kamala Harris, whoever, it will pump again. So

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<v Speaker 1>it's not correlated to those things. Now, I do want

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<v Speaker 1>a caveat by saying that Donald Trump would be better

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<v Speaker 1>for crypto businesses in the United States because he has

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<v Speaker 1>a clear agenda. He wants to kick out Gary Genser

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<v Speaker 1>and so forth. So let's keep it real, right, But

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<v Speaker 1>from a asset price standpoint, it is it doesn't matter

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<v Speaker 1>who becomes president. They both run the money printer. If

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<v Speaker 1>you understand these things and you're not totally gaslighted by

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<v Speaker 1>political talking points, and you understand the factors and the

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<v Speaker 1>fundamentals behind markets, you understand what I'm saying. So we

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<v Speaker 1>are seeing a very bullish setup here, folks, and I'm

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<v Speaker 1>very excited to see what happens in the coming weeks. Now,

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<v Speaker 1>we got some additional details about that university called Emery,

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<v Speaker 1>which had bought fifteen million dollars in bitcoin. Eric Belch,

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<v Speaker 1>who's a senior ETF analyst at Bloomberg, said Emory University

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<v Speaker 1>reported fifteen point eight million dollars worth of bitcoin, the

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<v Speaker 1>first endowment to report a spot Bitcoin ETF position. With that,

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<v Speaker 1>every institution type is now represented in the Bitcoin ETF

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<v Speaker 1>thirteen F filings, endowments, banks, hedge funds, insurance companies, advisors, pensions,

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<v Speaker 1>pe holding co vcs, trust, family offices, brokerages, so they

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<v Speaker 1>all have exposure to the Bitcoin ETFs, folks, And he said,

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<v Speaker 1>absolutely insane feet for category that is less than a

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<v Speaker 1>year old, akin to winning all four tennis Grand Slams

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<v Speaker 1>before this sixteenth birthday. Folks. There is incredible demand for bitcoin.

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<v Speaker 1>And wait till we have more ETFs around all coins

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<v Speaker 1>and the market is educated about those all coins and

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<v Speaker 1>what they do and so forth right, I think we

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<v Speaker 1>have to give that some time. You see the ether METF,

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<v Speaker 1>while it has been a success, it's not as successful

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<v Speaker 1>as Bitcoin because Bitcoin has the brand, it's well known,

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<v Speaker 1>and it has a very strong use case of being

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<v Speaker 1>a hedge against the the basement of currency. Now, he says,

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<v Speaker 1>here the BTC and this is the ticker symbol for

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<v Speaker 1>greyscale quietly moving up in the charts now in the

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<v Speaker 1>sixth place and nipping at bitb's heels. That's a black

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<v Speaker 1>Rocks Bitcoin ETF all told Grayscale now has a positive

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<v Speaker 1>netflows in the past few months as a company in

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<v Speaker 1>this category. There's a long history of ETFs of this

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<v Speaker 1>low cost mini me move working, and it worked again.

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<v Speaker 1>So we are seeing a lot of buying, a lot

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<v Speaker 1>of liquidity and the charts aligning. And I think the

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<v Speaker 1>folks on Wall Street recognized this. And here Van X

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<v Speaker 1>Matthew Siegel, who had on the podcast earlier this year.

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<v Speaker 1>He went on CNBC and made a statement about his

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<v Speaker 1>price prediction for bitcoin at three million dollars by twenty fifty.

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<v Speaker 1>Let me play a clip for you.

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<v Speaker 2>We have a model that assumes that by twenty fifty,

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<v Speaker 2>this is very long term, that bitcoin becomes a reserve

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<v Speaker 2>asset that's used in global trade and held by global

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<v Speaker 2>central banks at a very modest two percent weight, and

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<v Speaker 2>in that model, we arrive at a three million dollar

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<v Speaker 2>price target for bitcoin. Now that sounds, you know, extreme,

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<v Speaker 2>but that's a sixteen percent compound annual growth rate for

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<v Speaker 2>a couple of decades. You know, that's not really that extreme.

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<v Speaker 2>So into the millions over the medium term is a

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<v Speaker 2>high conviction call.

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<v Speaker 1>Okay, So he's basing his thesis that bitcoin will become

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<v Speaker 1>a global reserve asset by twenty fifty. Now, if it

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<v Speaker 1>does indeed become that, definitely three million is not off

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<v Speaker 1>the table when you think about the supply demand economics,

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<v Speaker 1>the hardcap in the supply, and bitcoin becoming this acid

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<v Speaker 1>that's being held by central banks and so forth. I

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<v Speaker 1>think this is a very good prediction, and the timeline

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<v Speaker 1>is realistic versus him saying, you know, next two years

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<v Speaker 1>three million dollars, that would be ridiculous, right, So I

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<v Speaker 1>think this is this definitely makes sense. This is why

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<v Speaker 1>there's some bitcoin I'm holding. I'm never selling, I'm just

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<v Speaker 1>keeping it now. The majority of it I will be

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<v Speaker 1>using the cycles take profits, right, I've told you guys

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<v Speaker 1>my strategy. Take some of that money and reinvested in

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<v Speaker 1>bitcoin and all coins in the bloody bear market when

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<v Speaker 1>everybody's scared again, and then taking some of that money

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<v Speaker 1>you pay off debt and then other profits now and

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<v Speaker 1>to pay off debt and then spend some of it.

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<v Speaker 1>Of course, you know some lifestyle chips. So very interesting

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<v Speaker 1>price prediction here from Matthew and here Howard Lutnick, CEO

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<v Speaker 1>of Cantor Fitzgerald, which is a major Wall Street firm.

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<v Speaker 1>Howard is of course part of Donald Trump's transition team,

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<v Speaker 1>and he was at the Bitcoin conference. He's bullish and

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<v Speaker 1>let me play the clip for you what he had

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<v Speaker 1>to say. He was interviewed on the Anthony Pompleano podcast.

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<v Speaker 2>Have hundreds of millions of dollars okay, okay, hundreds and

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<v Speaker 2>hundreds of millions of dollars exposure to bitcoin and it

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<v Speaker 2>will be billions.

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<v Speaker 1>So big statements coming from a billionaire and head of

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<v Speaker 1>a major Wall Street firm saying he owns hundreds and

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<v Speaker 1>hundreds of millions of dollars in coin and it will

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<v Speaker 1>eventually grow to billions. Now, the other thing you may

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<v Speaker 1>have heard Howard say is about Tether that they have

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<v Speaker 1>the reserves. He said this at Davos at the beginning

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<v Speaker 1>of twenty twenty four, and he said that a cancer

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<v Speaker 1>has done the auditing of the reserves of Tether. So

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<v Speaker 1>you're seeing some of the biggest players in the world

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<v Speaker 1>on Wall Street and so forth just getting involved in crypto. Guys.

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<v Speaker 1>It's pretty amazing. Now a great place where you can

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<v Speaker 1>buy bitcoin and all the top all coins is on Uphold.

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<v Speaker 1>This is a platform I've used since twenty eighteen. They

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<v Speaker 1>have three hundred plus cryptocurrencies on the platform. It's a

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<v Speaker 1>pretty unique platform where you can go between gold and

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<v Speaker 1>crypto and fiat and so forth. It's pretty amazing and

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<v Speaker 1>they have a great app, a great platform that makes

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<v Speaker 1>it easy to do all those things. And another great

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<v Speaker 1>part of using Uphold is that they are one hundred

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<v Speaker 1>percent reserve, so they don't commingle or lend out your

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<v Speaker 1>crypto funds, and they have a transparency report that you

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<v Speaker 1>can review. They also have a great product called the

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<v Speaker 1>US the Interest Accounts where you can park your dry

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<v Speaker 1>powder or your crypto profits and earned four point nine

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<v Speaker 1>percent apy and there's no lockups, there's no monthly fees,

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<v Speaker 1>and it's FDIC insured. So if you'd like to learn

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<v Speaker 1>more about Uphold, visit the link in the description now.

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<v Speaker 1>Scumbag regulator Gary Genser was interviewed at Money twenty twenty

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<v Speaker 1>and the question was asked will he be replaced or

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<v Speaker 1>is he afraid he might be replaced after the election

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<v Speaker 1>next week? He said, I sleep fine at night. Gary's out.

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<v Speaker 1>He is out, and I think even if Kamala Harris wins,

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<v Speaker 1>their team has said they're gonna kick him out because

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<v Speaker 1>look already the Democrats in the House and the Senate

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<v Speaker 1>have turned on him and Elizabeth Warren. So the jig

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<v Speaker 1>is up, right, him and Elizabeth Warren are on an

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<v Speaker 1>island by himself. So this guy can't be gone soon enough.

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<v Speaker 1>But the thing is, you know what's going to happen, right,

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<v Speaker 1>He's the Wall Street rat that's running through these government agencies.

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<v Speaker 1>Remember he was at the CFTC back in like two

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<v Speaker 1>thousand and eight, ten, nine, ten, and so forth, and

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<v Speaker 1>he was called out for you know, crap that he

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<v Speaker 1>did then, and then later on he got the SEC job. Right,

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<v Speaker 1>So watch that he watched, Watch him disappear for a

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<v Speaker 1>couple of years, and then all of a sudden he

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<v Speaker 1>gets a nice maybe the Treasury jobs that he covets

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<v Speaker 1>so much. He wants to take Yellen's place, right, But

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<v Speaker 1>this guy's pathetic, man. I hope he doesn't get another

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<v Speaker 1>government job. He's a scumback for sure. Now the crypto industry,

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<v Speaker 1>all of a sudden, today, guys, we've got a bunch

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<v Speaker 1>of Amikus briefs being filed in some of these different

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<v Speaker 1>crypto lawsuits against the SEC. I think these crypto companies

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<v Speaker 1>sense the weakness they see the political change that's coming up,

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<v Speaker 1>and it's a smart move to do this now. So

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<v Speaker 1>the Crypto Council for Innovation and the Blockchain Association are

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<v Speaker 1>stepping up to support BIBA and the DeFi Fund challenging

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<v Speaker 1>the SEC. So this has to do with ear drops, right,

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<v Speaker 1>the SEC trying to say that air crypto air drops,

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<v Speaker 1>if you got him for free, are securities. That's nonsense.

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<v Speaker 1>They said, Today we file a joint Amikis brief to

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<v Speaker 1>argue that air drop tokens are not investment contracts and

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<v Speaker 1>don't qualify as security offerings. And they're not the only

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<v Speaker 1>ones because Coinbase also jumped in with it, saying today

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<v Speaker 1>Coinbase file and a meek Us brief on behalf of

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<v Speaker 1>the Beta Collection and the DeFi Education Fund to stop

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<v Speaker 1>the destructive regulation by enforcement campaign waged by the SEC

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<v Speaker 1>against law binding American companies. Most destructive of all is

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<v Speaker 1>that the SEC itself can't even make up their mind

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<v Speaker 1>about they claim the law what they claim the law is.

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<v Speaker 1>So I don't Once again, I don't think this is

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<v Speaker 1>by coincidence. The timing I think is smart on their part. Now,

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<v Speaker 1>final news item here and not so good a news

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<v Speaker 1>item it's about Solana's phantom wallet. So Solana's phantom wallet

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<v Speaker 1>faces downtime causing inaccurate account balances for users during anticipated

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<v Speaker 1>grass air drop. So that's not good. We can't have

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<v Speaker 1>these things if we want the next billion users coming in.

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<v Speaker 1>So Solana has had a lot of issues, a lot

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<v Speaker 1>of downtime. Now, to be fair, they haven't the blockchain

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<v Speaker 1>itself has not had any downtime in the recent months.

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<v Speaker 1>Well I should say, I shouldn't say recent months. I

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<v Speaker 1>think in maybe about eight to ten months, which is

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<v Speaker 1>a good thing, right, But the fact that your biggest wallet, Phantom,

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<v Speaker 1>is experiencing downtime, that's not good. So hopefully they're able

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<v Speaker 1>to resolve these things. But they said the issues were

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<v Speaker 1>quickly resolve, but still not good, you know. And don't

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<v Speaker 1>get me wrong, things can happen from time to time,

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<v Speaker 1>but there just seems to be a lot of downtime

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<v Speaker 1>that follows Solana. And while it has incredible speed, you know,

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<v Speaker 1>are they sacrificing performance and latency because they're trying to

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<v Speaker 1>be super fast? Right again, you got to find a balance.

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<v Speaker 1>So I don't know how many of you use the

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<v Speaker 1>phantom wallet. I've used it, in the past. I don't

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<v Speaker 1>use it on a day to day basis, so I

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<v Speaker 1>didn't even know this happened until I read the news.

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<v Speaker 1>So let me know if you guys, you know, experience

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<v Speaker 1>the downtime. But this is not good for sure. And look,

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<v Speaker 1>I know that there has to be further iteration and

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<v Speaker 1>development from these different blockchain companies and so forth, so

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<v Speaker 1>we'll get there. But Solana just seems to have a

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<v Speaker 1>lot of these And I interviewed somebody from the Salana

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<v Speaker 1>Foundation recently and we talked about this. So look, as

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<v Speaker 1>long as it's maybe not a detrimental downtime if it

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<v Speaker 1>went down for like five minutes, okay, but if it's

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<v Speaker 1>down for hours and days or whatever, that's come on, right,

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<v Speaker 1>we can't have that anyway. Guys, let me know what

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<v Speaker 1>you think. Leave your thoughts and comments below, hit the

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<v Speaker 1>thumbs up button, and please support me by subscribing to

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<v Speaker 1>my free email newsletter on substack one hundred percent free

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<v Speaker 1>link wi being a description, and also grab a copy

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<v Speaker 1>of my book, Rethinking Crypto. It's available on Amazon and

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<v Speaker 1>Paperbacking Digital. If you bought a copy ready, please leave

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<v Speaker 1>a rating and review. It will really help me out

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<v Speaker 1>thank you so much. I appreciate you all, and I'll

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<v Speaker 1>talk to you all later. The T Take eight to

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<v Speaker 1>T